OUTPUT, DEMAND AND JOBS

OUTPUT, DEMAND AND JOBS America's economy defied fears of a slowdown: its GDP growth rose to an annualised 5.6% in the fourth quarter of 1998. Growth reached 4.2% in the year to the fourth quarter, up from 3.5%. Japan's jobless rate dipped to 4.3% in December. Growth in retail sales in the Euro-11 slowed to 0.5% in the 12 months to October.